ModivCare (NASDAQ:MODV) Price Target Raised to $22.00

ModivCare (NASDAQ:MODV) had its target price hoisted by research analysts at Barrington Research from $19.00 to $22.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Barrington Research’s price target would indicate a potential upside of 27.54% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Jefferies Financial Group decreased their price target on shares of ModivCare from $25.00 to $14.00 and set a “hold” rating for the company in a report on Friday, September 13th. Lake Street Capital decreased their price target on shares of ModivCare from $50.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, September 17th.

ModivCare Trading Down 2.2 %

Shares of ModivCare stock traded down $0.39 during trading on Thursday, hitting $17.25. The stock had a trading volume of 74,404 shares, compared to its average volume of 254,670. The stock has a 50 day simple moving average of $22.09 and a 200 day simple moving average of $24.21. The company has a market capitalization of $245.14 million, a PE ratio of -1.10, a P/E/G ratio of 1.82 and a beta of 0.49. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 103.63. ModivCare has a 1 year low of $11.00 and a 1 year high of $52.33.

ModivCare (NASDAQ:MODV) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.77 by ($0.80). The company had revenue of $698.30 million for the quarter, compared to analyst estimates of $701.00 million. ModivCare had a positive return on equity of 27.52% and a negative net margin of 5.80%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.41 earnings per share. On average, research analysts expect that ModivCare will post 1.06 EPS for the current fiscal year.

Institutional Trading of ModivCare

A number of institutional investors have recently added to or reduced their stakes in the business. Susquehanna Fundamental Investments LLC acquired a new stake in ModivCare in the second quarter valued at approximately $581,000. Millennium Management LLC lifted its stake in shares of ModivCare by 83.2% in the second quarter. Millennium Management LLC now owns 841,295 shares of the company’s stock worth $22,076,000 after buying an additional 381,995 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in shares of ModivCare in the second quarter worth $206,000. AQR Capital Management LLC lifted its stake in shares of ModivCare by 16.0% in the second quarter. AQR Capital Management LLC now owns 40,444 shares of the company’s stock worth $1,061,000 after buying an additional 5,592 shares during the last quarter. Finally, AYAL Capital Advisors Ltd lifted its stake in shares of ModivCare by 42.1% in the second quarter. AYAL Capital Advisors Ltd now owns 262,904 shares of the company’s stock worth $6,899,000 after buying an additional 77,930 shares during the last quarter.

About ModivCare

ModivCare Inc, a technology-enabled healthcare services company, provides a suite of integrated supportive care solutions for public and private payors and their members. The company operates through four segments: Non-Emergency Medical Transportation (NEMT), Personal Care, Remote Patient Monitoring (RPM), and Corporate and Other.